Ncc Group: report on operations in 1999

Wed, Feb 09, 2000 15:06 CET

NCC GROUP: REPORT ON OPERATIONS IN 1999
* Consolidated income after net financial items amounted to SEK 1,251 m.
(730). The corresponding pro forma figure, which also includes Superfos
Construction during 1998, was income of SEK 1,245 m. (782).
* Consolidated income after full tax amounted to SEK 838 m. (543), equal
to SEK 7.70 per share (5.00). The Board of Directors proposes a dividend
of SEK 4.00 (2.50) per share, an increase of approximately 60 percent. In
addition, the Board proposes an extraordinary dividend of SEK 7.00 per
share.
* Total net sales rose by 10 percent to SEK 37.5 billion (34.2). NCC's
strategy of generating growth through acquisitions in the Nordic and
Baltic Sea region has resulted in average annual growth of 27 percent in
the past five years.
* Fourth quarter income after net financial items amounted to 341 (31)
MSEK.
* Following fiscal year-end, real estate assets were sold for SEK 1,250
m., generating capital gains of SEK 180 m. Following these sales, the book
value of the portfolio of managed properties is SEK 5.3 billion.
* NCC is continuing its forceful focus on real estate development in
expansive locations in the Nordic region and other parts of Europe. The
project portfolio amounted to SEK 10.5 billion on December 31, 1999.
Construction has been initiated on projects with a value of SEK 2.4
billion, with half of this volume already worked up.
"We made considerable progress during 1999 towards realizing our vision of
being the leading construction and real estate company in the Nordic and
Baltic Sea region. Earnings and margins from construction operations
improved during the year and we're continuing to implement our strategy
for increased profitability," comments Jan Sjöqvist, President and Chief
Executive Officer of the NCC Group.
"Real estate operations also developed favorably, with rising rent levels
and increased demand for office premises creating a solid platform for
profitable real estate development. Our project portfolio, which is now
worth more than SEK 10 billion, will generate considerable earnings in the
next few years. At the same time, we have continued to reduce our
portfolio of managed properties. As a result of the changed capital
structure, we are reducing our equity/assets target from 35 to 30 percent,
and the Board will propose that the Annual General Meeting approve an
extraordinary dividend of SEK 7.00 per share, in addition to the ordinary
dividend of SEK 4.00 per share", concludes Jan Sjöqvist.
Questions can be directed to: Björn Andersson, Senior Vice President -
Financial and Business Control (Tel: +46-8-655 20 40) or Hans-Olof
Karlsson, Senior Vice President - Corporate Communications (Tel:+46-8-65522 79).
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http://www.bit.se/bitonline/2000/02/09/20000209BIT00660/bit0001.doc Full report
http://www.bit.se/bitonline/2000/02/09/20000209BIT00660/bit0002.pdf Full report

About Us

About NCC Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading companies in the Nordics within construction, infrastructure and property development, with sales of SEK 55 billion and 17,800 employees in 2017. The NCC share is listed on NASDAQ Stockholm.